McAlvany Wealth Management LLC Acquires New Holdings in Canadian Natural Resources Limited $CNQ

McAlvany Wealth Management LLC bought a new stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the 1st quarter, Holdings Channel.com reports. The fund bought 30,419 shares of the oil and gas producer’s stock, valued at approximately $1,502,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CNQ. Capital Research Global Investors lifted its holdings in shares of Canadian Natural Resources by 31.5% in the fourth quarter. Capital Research Global Investors now owns 146,331,336 shares of the oil and gas producer’s stock valued at $4,956,204,000 after purchasing an additional 35,067,143 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Canadian Natural Resources by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 93,305,198 shares of the oil and gas producer’s stock worth $3,160,340,000 after purchasing an additional 818,809 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Canadian Natural Resources by 3.2% during the 4th quarter. Fisher Asset Management LLC now owns 42,745,981 shares of the oil and gas producer’s stock worth $1,446,951,000 after purchasing an additional 1,342,954 shares during the last quarter. Geode Capital Management LLC lifted its stake in Canadian Natural Resources by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 20,518,621 shares of the oil and gas producer’s stock valued at $710,119,000 after buying an additional 1,347,844 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Canadian Natural Resources by 1.9% during the 4th quarter. JPMorgan Chase & Co. now owns 14,308,539 shares of the oil and gas producer’s stock valued at $484,344,000 after buying an additional 260,746 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CNQ. Weiss Ratings downgraded Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Zacks Research lowered Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Raymond James Financial upgraded Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 7th. Finally, Scotiabank upgraded shares of Canadian Natural Resources to a “hold” rating in a report on Friday, June 26th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Canadian Natural Resources Trading Up 2.3%

Shares of Canadian Natural Resources stock opened at $43.86 on Friday. Canadian Natural Resources Limited has a fifty-two week low of $29.30 and a fifty-two week high of $51.34. The firm has a market cap of $91.03 billion, a PE ratio of 13.09 and a beta of 0.47. The business’s fifty day moving average is $44.09 and its two-hundred day moving average is $42.79. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.37.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.11. The business had revenue of $7.72 billion for the quarter, compared to analysts’ expectations of $7.57 billion. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.During the same quarter last year, the firm earned $1.16 earnings per share. Analysts anticipate that Canadian Natural Resources Limited will post 4.2 earnings per share for the current year.

Canadian Natural Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd were paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend was Tuesday, June 23rd. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 54.03%.

Canadian Natural Resources Profile

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.